Frequent Contributor
Sunshine85
Posts: 367
Registered: ‎01-14-2012
Re: My questions after reading these forums

basballguy wrote:

forgive me for sounding rude, but if FHA is ok with bankruptcies if they're 2 years old, why wouldn't they be ok with a mind blowing 500.00 eviction that is 7 years old?  I imagine i'd get a question about it but I don't see why that would really be a problem.  But again, i'm not the expert and that's why i'm here asking questions.

 

and of course one could say "well if it's only 500 then just pay it" sure why not, but i don't understand the impacts of that to my score either...versus just letting it fall off. 


Because it's related to housing. Any unpaid housing related debts are a red flag for lenders. Doesn't matter that it's old or only for $500-mortgage lenders don't want to see an collections or judgments related to unpaid rent.